Jobless claims at historically high 900K

Fewer Americans applied for unemployment benefits, but levels are still historically high as a new government takes over. Vaccine distribution and new relief packages are expected to help the economy recover.

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January 21, 2021 - 9:32 AM

WASHINGTON (AP) — Fewer Americans applied for unemployment benefits last week, lowering claims to 900,000, still a historically high level that points to further job cuts in a raging pandemic.

The Labor Department’s report Thursday underscored that President Joe Biden has inherited an economy that faltered this winter as virus cases spiked, cold weather restricted dining and federal rescue aid expired. The government said that 5.1 million Americans are continuing to receive state jobless benefits, down from 5.2 million in the previous week. That signals that fewer people who are out of work are finding jobs. 

New viral infections have begun to slow after months of relentless increases, though they remain high and are averaging about 200,000 a day. The number of deaths in the United States from the pandemic that erupted 10 months ago has surpassed 400,000. 

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